Thursday, February 26, 2009

Today Sheila Bair, chairwoman of the FDIC, said the "Problem List" of troubled banks currently includes 252 banks with assets of $159B. This is up 47% from the third quarter of 2008 when the list stood at 171 banks.

She said this is one of the most difficult periods in the FDIC's 75 year history of operation.

In 2008 there were 292 bank mergers, 25 bank failures, 5 FDIC "assistance transactions." The 25 bank failures was the largest number since 1993.

There are now a total of 8,305 FDIC insured banks and savings and loans.

The banking industry lost $26.2 Billion in the fourth quarter of 2008. Worst since 1990.

Full year net income was down 84% to $16.1B, also the lowest since 1990.

FDIC reserve for bank failures fell by $16B and now stands at $19B.

The FDIC may ask for a special assessment on the industry banks to recharge their reserves.

The good news was Domestic Deposits Increased by 3.8 Percent

"Public confidence in the banking system and deposit insurance is demonstrated by the increase in domestic deposits during the fourth quarter," FDIC Chairman Sheila Bair said. "Clearly, people see an FDIC-insured account as a safe haven for their money in difficult times."

The FDIC does not name names on this list of "troubled banks" to reduce the odds of a run on those banks.

Win a bicycle. For a limited time, Stop by a participating branch for a chance to win a Rabobank branded cruiser bike or visit the Rabobank booth at the Tour of California Lifestyle Festival in Sacramento, Santa Cruz, Clovis, Paso Robles, Solvang or Escondido to sign up.

Saturday, February 7, 2009

Enter the secret phrase or word (the answer is below in Bold) for Southwest Airlines Chinese New Year Contest and you can win 4 roundtrip tickets to any Southwest Airlines destination! Watch the parade, Saturday, February 7th, 2009 at 6pm on KTVU Channel 2 and look for the "Secret Word."

The Contest Rules state:

KTVU's broadcast of the "Chinese New Year Parade" will air on KTVU between 6:00-8:00 p.m. PST on February 7, 2009, at which time the Contest will begin ("Start Date"). The Parade will be rebroadcast on KICU between 8:00-10:00 p.m. on February 7, 2009 and again between 3:00-5:00 p.m. on February 8, 2009. Sometime during KTVU's broadcast and KICU's rebroadcasts of the "Southwest Airlines Chinese New Year Parade" a secret word ("Secret Word") will be revealed, and viewers will be invited to visit KTVU's website at www.ktvu.com to enter the Contest.

To be eligible for the Contest, Entries must be received no later than 11:59 p.m. P.S.T. on February 8, 2009 ("Entry Deadline").

Watch Win and Let LUV take you places! Secret Word Choices

LUV

Air

No Hidden Fees

Low Fares

The secret phrase is the one in BOLD red from these choices: LUV, Air, "No Hidden Fees" and "Low Fares."

Use this page to register to win 4 roundtrip tickets to any Southwest Airlines destination!